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Despite the low inventory throughout the year, the Maui real estate market saw 30% more single family home sales in 2021 when compared to 2020. For condos, in 2021 there were 70% more condos sold on Maui when compared to 2020.
In December, there were 120 single family homes sold, which is 11.1% more than those sold last December in 2020. The number of sales also increased slightly month to month, despite the slight decline in number of new listings decreasing in December 2021, when comparing with November 2021.
There were 175 condos sold last month on Maui, representing a 2.3% increase when compared to this time last year. The number of condo sales continues to trend upwards October 2021.
The average days on the market for single family homes dropped slightly from 81 days in November to 74 days in December for single family homes. This represents a 21.3% decrease in number of days spent on the market for single family homes when compared to December 2020. The average days on the market for condos sold last month was down to 55 days last month, representing a decrease of 49.1% when compared to this time last year.
The median sale prices for single family homes on Maui jumped to $1,075,000 last month, representing a 26.6% increase when compared to this time last year. For condos, the median sales price in December was $700,000, which is down slightly from $725,000 in November 2021. This represents an increase of 11.1% when compared to this time last year.